Investors placed USD 760mln bet on falling oil price around 20 minutes before Iran's Foreign Minister announced the Strait of Hormuz was open, according to Reuters

This significant bet on falling oil prices ahead of Iran’s announcement regarding the Strait of Hormuz could indicate market concerns about geopolitical stability and supply flows. The timing suggests traders may be positioning for a short-term drop in oil prices, potentially impacting inflation expectations and commodity-linked currencies.